Hello,
I am assuming that you are indicating the size of the sphere not the diameter of the screw hole. The maximum diameter of part that will fit on the Pocket NC rotary table is 5 inches (127 mm). This is assuming that the part is mounted perfectly above the center of rotation.
Yes, the Pocket NC is capable of milling mild (unhardened and low carbon content) steel, but it is limited in speed because it does not have a coolant system. We would recommend using 1/8 inch tooling for steel. We have tested the machine with 1024 steel, 4140 is somewhat harder than 1024 so the performance may not be satisfactory.
Yes, the Pocket NC is capable of using a thread mill to cut screw threads.
Jonathan